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Non-performing, problematic assets can support Maharlika

(File photo) MANILA - Senators supported the proposal of the Department of Finance (DOF) to sell government assets to fund the proposed Maharlika Investment Fund (MIF) but said non-performing or problematic properties should go first. In separate statements, Senators Grace Poe and Sonny Angara said the sale must be transparent and the proceeds of the sales well-accounted for. "(The sales) should directly go to the intended fund," Poe said. She cited the casinos being run by the Philippine Gaming and Amusement Corporation (PAGCOR), which carry no risk to the public "unlike if initial investments are sourced from government reserves, which is not only wrong but dangerous." Angara added that government properties that are not in use or developed can still benefit the people but only though transparent transactions. In an interview on the sidelines of the economic briefing in London last week, DOF Secretary Benjamin Diokno said proceeds from the privatization of state-o

Pimentel saddened by referral of MIF bill to Senate banks panel

Senate Minority Leader Aquilino Pimentel III said on Thursday, January 26, he is saddened that his motion to refer the controversial Maharlike Investment Fund (MIF) bill to the Senate Committee on Government Corporations and Public Enterprises was not considered by his colleagues. Pimentel had sou

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